With the deep analysis of the above options, it is recommended that the company ought to choose the alternative 3 in order to preserve a competitive position in the long run. As the alternative 3 would enable the business to not just introduce brand-new and innovative items in the market it would also decrease the high expenditures on R&D under alternative 2 and increase the revenue margins. It would enable the company to increase its share prices also, as financiers want to invest more in business with considerable R&D costs and boost in the total worth of the company.
Action and implementation Strategy
Strategy can be executed successfully by establishing specific short-term along with long term strategies. These strategies might be as follows;
Short Term Plan (0-1 year)
• Under the short-term plan Gold Seal Engineering Products Pvt Ltd Challenges Facing A Developing Country Sme need to perform different activities to execute its NHW strategy effectively. These activities are as follows;.
• Get the audit of its brand portfolio done, to examine the core selling brand names, which create most of its income.
• Evaluate the existing target audience along with the market sector which is not include in the company's circle.
• Analyze the current financial data to measure the amount that ought to be invested in the R&D and acquisitions.
• Evaluate the possible investors and their nature, i.e. do they want long term advantages (capital gain), or the want early profits (dividend). It would let the company to understand that how much quantity should be spent on R&D.
Mid Term Plan (1-5 years)
• Obtain those companies in which the company has possible experience to handle. Get most beneficial companies with a strong commitment to health, to construct the client's perceptions in the best direction.
• Focus more on acquisitions than R&D to develop the base in the customer's mind about Gold Seal Engineering Products Pvt Ltd Challenges Facing A Developing Country Sme worths and vision and to prevent potential risk of sunk expense.
Long Term Plan (1-10 years)
• Get companies with health in addition to taste aspect, as the base for the Gold Seal Engineering Products Pvt Ltd Challenges Facing A Developing Country Sme as a company producing healthy products has actually been built under midterm plan and now the company could move towards taste aspect too to understand the customers, which focus more on taste rather than health.
• Be more aggressive towards R&D than the acquisitions, as it is the significant time to develop new products.
